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Corporate Governance In today’s environment, Tullow faces a wide range of challenges and opportunities in the areas of CSR and EHS responsibility and performance. This is particularly so given the nature of the oil and gas industry and the geographic location of the Group’s operations, many of which are in countries with complex socio-economic challenges or high environmental sensitivity. www.tullowoil.com/about us Tullow has a long track record of respecting, developing and fostering relationships in countries and communities where we operate. This longevity is based on an awareness and understanding of the Group’s obligation to its responsibilities. The Board and senior management are fully committed to all aspects of good corporate behaviour and risk management. Corporate responsibility and accountability is reflected in our organisational structure, policies and processes and ensuring we comply fully with legislative and regulatory requirements. Clear and effective governance Tullow’s Board operates within a clear governance framework for the management of the Group, the safety of its operations and employees and the balance of countries, business units and individual assets within our portfolio. The Board has overall responsibility for the financial, business and operational risks facing the Group, and to ensure that Tullow consistently applies its focused growth strategy and maintains a long-term view in developing the business. The Board comprises 12 Directors with seven executive Directors and five non-executive Directors. Rohan Courtney is the Senior Independent Director and the Board operates three principal committees. Directors’ biographies and Board Committee information are on pages 34 and 35 of the 2006 Annual Report and a detailed Corporate Governance Report is on pages 37 to 41. This information is also contained in the Group’s website. Strong risk management Tullow is exposed to a range of technical, geological, operational, political, environmental, health and safety and financial risks in the conduct of its day-to-day business. The Group seeks to manage and mitigate these risks by maintaining a balanced portfolio, through compliance with the terms of its licences, the application of established policies and procedures appropriate for an international oil and gas company, and the recruitment and retention of skilled personnel throughout its business. The Group’s principal risks are considered to fall into four key categories of strategic, financial, operational and external risks. Detailed information on risk is contained on page 41 of the Annual Report 2006. Accounting policies and standards The Directors are responsible for preparing the Annual Report and financial statements, which was published on 19 April, 2007. The Directors have chosen to prepare the accounts for the Group in accordance with International Financial Reporting Standards (IFRS), and in virtually all circumstances a fair presentation will be achieved by compliance with all applicable IFRS. Political donations There were no donations made to political parties during 2006. ECOFAC Since 2003, Tullow has supported the Programme for Conservation and Rational Utilization of Forest Ecosystems in Central Africa (ECOFAC). This support was recently renewed for a further three years to 2009, with total funding of US$155,000. The aim of this project is to educate local communities to help them prevent the spread of Ebola to the human population, to manage and monitor new epidemics of Ebola on large monkeys and other wild animals and to help gorilla families acclimatise to humans so that eco-tourism can be developed in the region. Preventing and managing the spread of Ebola is a significant factor in maintaining the gorilla population. A fundamental element in ensuring the survival of these incredible primates is the need for a greater understanding of this devastating disease, and this is the key reason for Tullow’s continued support of this major project. 6 Tullow Oil plc Corporate and Social Responsibility Report 2006
Audit Committee Remuneration Committee Nominations Committee The Audit Committee monitors and reviews all financial reporting, systems of internal control, risk management and the Group’s relationship with the external auditor. The Audit Committee comprises five members, met four times during 2006 and the Chairman of the Committee is Rohan Courtney. The Remuneration Committee is responsible for setting targets for performance-related pay, the design of share incentive plans and pension policy for executive Directors and senior group executives. The Committee also determines the remuneration of the Chairman, executive Directors and key senior management at Tullow. The Remuneration Committee comprises six members, met four times during 2006 and the Chairman of the Committee is Pat Plunkett. The Nominations Committee focuses on Board structure, size and composition, succession planning for Directors and senior management, the selection and nomination of new Board members as appropriate and also makes recommendations on the composition of Board committees. The Nominations Committee comprises six members, met three times during 2006 and the Chairman of the Committee is Pat Plunkett. Angola Tullow Oil plc Corporate and Social Responsibility Report 2006 7
Page 1 and 2: Tullow Oil plc Corporate and Social
Page 3 and 4: 1 About us Tullow Oil plc is one of
Page 5 and 6: Welcome to our Corporate and Social
Page 7 and 8: Aidan Heavey in Kaiso-Tonya, Uganda
Page 9: About Tullow in Uganda Post the Har
Page 13 and 14: 2006 CSR expenditure US$1.5 million
Page 15 and 16: Community Our goal is to conduct al
Page 17 and 18: Our EHS team 1 2 3 4 5 6 7 3. Paul
Page 19 and 20: Turtles in Chachar Tullow’s EHS P
Page 21 and 22: 2006 hours worked by country by ons
Page 23 and 24: Lost Time Incidents (LTI) 2006 5 20
Page 25 and 26: The Environment Our focus is on pro
Page 27 and 28: Produced water - Quantity (m 3 ) 20
Page 29 and 30: Water usage (m 3 ) 2006 18,678 2006
Page 31 and 32: Art competition The Children’s ar
Page 33 and 34: ConocoPhillips-operated Murdoch pla
Page 35 and 36: India Tullow Oil plc Corporate and
Page 37 and 38: Flexible working arrangements A fle
Page 39 and 40: 1 and 6 Great Gorilla Run. 2 Breakt
Page 41 and 42: Bangora, Bangladesh Tullow Oil plc
Page 43 and 44: Bangladesh educational project Tull
Page 45 and 46: An integrated approach CSR and EHS
Page 47 and 48: 2006 Social data South Côte UK Ire
Page 49 and 50: Other information Annual report Pub

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